Raymond James Financial (NYSE:RJF) Given New $180.00 Price Target at Morgan Stanley

Raymond James Financial (NYSE:RJF - Get Free Report) had its target price increased by equities research analysts at Morgan Stanley from $136.00 to $180.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an "equal weight" rating on the financial services provider's stock. Morgan Stanley's target price suggests a potential upside of 15.28% from the company's current price.

RJF has been the topic of a number of other research reports. Wells Fargo & Company lifted their price target on shares of Raymond James Financial from $155.00 to $163.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. Bank of America downgraded shares of Raymond James Financial from a "buy" rating to a "neutral" rating and set a $159.00 price objective for the company. in a report on Wednesday, April 30th. The Goldman Sachs Group decreased their price target on Raymond James Financial from $198.00 to $173.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. Cowen reaffirmed a "hold" rating on shares of Raymond James Financial in a report on Thursday, April 24th. Finally, Citigroup restated an "outperform" rating on shares of Raymond James Financial in a research note on Monday. Nine investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $162.40.

Raymond James Financial Stock Down 0.1%

Shares of NYSE RJF traded down $0.12 during trading hours on Tuesday, hitting $156.15. The stock had a trading volume of 1,340,122 shares, compared to its average volume of 1,316,137. The firm's 50-day moving average price is $150.99 and its two-hundred day moving average price is $149.84. Raymond James Financial has a 52 week low of $104.24 and a 52 week high of $174.32. The company has a market capitalization of $31.50 billion, a P/E ratio of 15.03, a P/E/G ratio of 1.30 and a beta of 1.02. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.02 and a current ratio of 1.04.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.02). Raymond James Financial had a return on equity of 19.31% and a net margin of 13.99%. The business had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.46 billion. During the same period in the previous year, the company earned $2.31 earnings per share. The company's quarterly revenue was up 9.0% compared to the same quarter last year. Analysts anticipate that Raymond James Financial will post 11.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other Raymond James Financial news, insider James E. Bunn sold 3,650 shares of the stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $136.49, for a total value of $498,188.50. Following the completion of the sale, the insider directly owned 78,227 shares in the company, valued at $10,677,203.23. This represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bella Loykhter Allaire sold 6,570 shares of the firm's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $146.61, for a total value of $963,227.70. Following the sale, the insider directly owned 74,586 shares in the company, valued at approximately $10,935,053.46. This represents a 8.10% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.54% of the company's stock.

Institutional Trading of Raymond James Financial

Large investors have recently bought and sold shares of the business. Patton Fund Management Inc. acquired a new position in shares of Raymond James Financial in the second quarter valued at approximately $246,000. Cadent Capital Advisors LLC lifted its position in Raymond James Financial by 187.2% in the 2nd quarter. Cadent Capital Advisors LLC now owns 6,246 shares of the financial services provider's stock valued at $958,000 after acquiring an additional 4,071 shares in the last quarter. Perigon Wealth Management LLC acquired a new position in Raymond James Financial in the 2nd quarter worth $222,000. TD Private Client Wealth LLC boosted its stake in Raymond James Financial by 47.2% in the 2nd quarter. TD Private Client Wealth LLC now owns 337 shares of the financial services provider's stock worth $52,000 after purchasing an additional 108 shares during the period. Finally, Ballentine Partners LLC increased its holdings in Raymond James Financial by 12.9% during the 2nd quarter. Ballentine Partners LLC now owns 2,718 shares of the financial services provider's stock worth $417,000 after purchasing an additional 310 shares in the last quarter. 83.83% of the stock is owned by institutional investors.

Raymond James Financial Company Profile

Raymond James Financial, Inc, a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments.